"Every year, every municipality in the state of Kansas completes a comprehensive annual financial report or audit and single audit of our city finances under generally accepted accounting principles and the governmental accounting standards board principles," said City Manager Mark Westhoff who, along with auditor Stacey Hammond, with the firm Swindoll, Janzen, Hawk and Loyd, presented the 2025 Annual Comprehensive Financial Report to commissioners.
The report, upon its completion, contained what's known as an unmodified opinion, essentially a clean bill of health and the highest rating a city can receive, a fact that Mayor La Rochelle Young emphasized during the presentation. "You said that the city does have the highest rating that you were able to give. And could you repeat that for us, please?," Young asked Hammond, who replied by saying, "Correct. You got an unmodified audit opinion, and that is the best kind of opinion the city can get."
Officials say the report accounts for all assets, investments, expenditures, and income across every city program, division, and fund, reconciling the year's actual financial activity rather than projecting ahead like a budget does.
The city's audit committee, made up of community members with backgrounds in finance, law, and insurance, reviewed the report the afternoon of June 30 before it went to the full commission.
Commissioners voted unanimously to adopt the 2025 report as presented, which will be posted to the city's website under financial reports.
Officials say a favorable audit helps the city maintain a strong credit rating and secure better terms on future bond issuances.
